JENJE-BARA

  Average long-term U.S. mortgage rates slipped this week after they climbed recently expectations that the Federal Reserve may soon raise its key short-term interest rate. Mortgage buyer Freddie Mac said Wednesday the average rate on a 30-year fixed-rate mortgage slipped to 3.95 percent from 3.97 percent a week earlier. The key 30-year rate was nearly unchanged from its level of a year ago, 3.97 percent. But the average has increased over the past months from 3.76 at the end of October. The average on 15-year fixed-rate mortgages was unchanged at 3.18 percent from 3.20. Rates have risen in recent weeks as some of the global economic turmoil has calmed down. Foreign buyers poured into 10-year U.S. Treasury bonds in October, temporarily depressing mortgage rates that have since risen as the market focus has returned to the Fed.

  The World Bank Group has unveiled a new plan that calls for $16 billion in funding to help African people and countries adapt to climate change and build up the continent’s resilience to climate shocks. Entitled ‘Accelerating Climate-Resilient and Low-Carbon Development’, the Africa Climate Business Plan will be presented at COP21, the global climate talks in Paris, on November 30. At a ceremony on Tuesday, the Bank laid out measures to boost the resilience of the continent’s assets – its people, land, water, and cities – as well as other moves, including boosting renewable energy and strengthening early warning systems. “Sub-Saharan Africa is highly vulnerable to climate shocks, and our research shows that could have far-ranging impact — on everything from child stunting and malaria to food price increases and droughts,” said World Bank Group President Jim Yong Kim. “This plan identifies concrete steps that African governments ca...

ABUJA – The All Progressives Congress, APC, led Federal Government yesterday said that the payment of the N5000 stipend to the unemployed Nigerians will commence next year. It regretted that the payment could not take off now due to non budgetary provisions. Minister of Youth and Sports, Barrister Solomon Dalong revealed this yesterday in Abuja when he paid a condolence visit to the national chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun at the nationL secretariat in Abuja on the demise of Prince Abubakar Audu, the erstwhile governorship candidate of the party in Kogi State election. Dalong who spoke with Journalists assured that APC government would also create more jobs to fulfill its campaign promises

   Photo: ISS Maritime and logistics service provider  Inchcape Shipping Services (ISS) has expanded its launch fleet with two more fast crewboats, bringing its total fleet size to 18 vessels. The two new build 42-meter vessels have been added in response to a growing demand in the oil and gas sector for faster crew/supply boats to increase operational efficiency and will assist in the safe and fast transfer of offshore personnel, cargo and liquid payloads, ISS said. Custom-built to ISS’ specifications by the Grand Weld shipyard in Dubai, the FNSA 3 and FNSA 4 both have a 75 seater passenger capacity and can operate virtually anywhere in the world, according to charter demand. Each boat has been fitted with the latest navigation equipment, comprehensive satellite communication systems, engine performance and weather monitoring systems. Other features include comprehensive D-fendering, h2s monito...

Photo courtesy of Damen Shipyards Sweden-based BogserTeam Ӧresund (BTӦ), part of MarCon gruppen, recently signed a contract with the Damen Shipyards Group for the delivery of a Damen ASD Tug 2810. MarCon gruppen is currently experiencing growth and is undertaking a program of renewal and expansion to its fleets. The ASD 2810 is currently being built on series at Damen Shipyards Galati in Romania. The completed vessel will be delivered to the client in June 2016, after which she will sail under her own keel to Sweden. Here, she will join two other tugs currently operated by BTӦ and carry out harbor and escort towage duties in the Sound, between Denmark and Sweden. MarCon gruppen already operates two Damen vessels: a Shoalbuster 2609 and a Twin Axe 2610. Before signing the contract, Bill Söderberg, a Director within MarCon gruppen, and his colleague Hans Andersson accompanied Damen Sales Manager Chiel de...